South Alabama Medical Science Foundation
- Assets
- $11.3m
- Revenue
- $1.2m
- Investments
- $1.1m
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 06/1982
- Data as of
- 09/2023
- EIN
- 63-0819233
Organization Overview
South Alabama Medical Science Foundation is located in Mobile, AL. The organization was established in 1982. According to its NTEE Classification (H48) the organization is classified as: Brain Disorders Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Alabama Medical Science Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, South Alabama Medical Science Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $1.1m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE EDUCATION AND RESEARCH WITHIN THE UNIVERSITY OF SOUTH ALABAMA HEALTH SYSTEM.
Describe the Organization's Program Activity:
SCIENTIFIC TESTING/ RESEARCH PROJECTS CONDUCTED TO SUPPORT AND FURTHER PROMOTE RESEARCH WITHIN THE USA HEALTH SYSTEM.
EDUCATIONAL ACTIVITIES HELD IN SUPPORT OF THE UNIVERSITY OF SOUTH ALABAMA HEALTH SYSTEM'S EDUCATION MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jo Bonner President Us | Trustee | 1 | $0 |
John V Marymont MD MBA VP Med Aff/ | OfficerTrustee | 4 | $0 |
Christopher Davies PHD Assoc Dean, | Trustee | 1 | $0 |
Jonathan G Scammell PHD Chair Usa Co | OfficerTrustee | 1 | $0 |
Richard Honkanen PHD Chair Usa Bi | Trustee | 1 | $0 |
Kevin Macaluso PHD Chair Usa Mi | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $774,416 |
| Investment income | $269,033 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,458 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$107,952 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,215,089 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,115 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,377 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $34,749 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $227,720 |
| Advertising and promotion | $14,603 |
| Office expenses | $85,593 |
| Information technology | $47,097 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $59,240 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $289,687 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,694 |
| All other expenses | $0 |
| Total functional expenses | $1,051,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,219,234 |
| Savings and temporary cash investments | $1,700,145 |
| Pledges and grants receivable | $103,364 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,920 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,058,355 |
| Investments—other securities | $1,058,075 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $180,302 |
| Total assets | $11,322,395 |
| Accounts payable and accrued expenses | $41,029 |
| Grants payable | $0 |
| Deferred revenue | $21,750 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $62,779 |
| Net assets without donor restrictions | $11,030,774 |
| Net assets with donor restrictions | $228,842 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,322,395 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Brain Research Foundation Inc Delray Beach, FL | $390,935 | $880,096 |
South Alabama Medical Science Foundation Mobile, AL | $11,322,395 | $1,215,089 |
Winter Conference Of Brain Research Brentwood, TN | $681,158 | $452,102 |
Elizabeth M Fehrenbach Tr Uw Fbo George B Fehrenbach Tampa, FL | $54,072 | $0 |
Hope For Annabel Inc Atlanta, GA | $702,046 | $231,023 |
Life Of Riley Foundation Inc Sarasota, FL | $880,187 | $93,316 |
Lulu Fund Inc Naples, FL | $26,315 | $14,789 |
The Alzheimers Regional Resource Center Kingsport, TN | $0 | $0 |
David Mahoney Institute For Brain Palm Beach, FL | $0 | $0 |
Lets Cure Cp Inc Atlanta, GA | $54,064 | $0 |